07:21 AM EDT, 09/13/2024 (MT Newswires) -- The US government is set to increase tariffs on certain imported products from China to protect local sectors, Reuters reported Friday, citing the US Trade Representative's office.

New tariffs that will take effect on Sept. 27 include a 100% duty on Chinese electric vehicles, 50% for solar cells, and 25% on EV batteries, steel, and aluminum, the office of the US Trade Representative or USTR told Reuters. The report also said a 50% duty on Chinese semiconductors will be enforced in 2025.

The office of the US Trade Representative did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)